Central State Bank in Muscatine, Iowa (IA)



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Central State Bank
GeneralFDIC Certificate #: 1552
Status: Active
Federal Reserve ID: 830542
Bank Holding Company (Regulatory Top Holder): Central Bancshares, Inc. (RSSDID: 1203899, Location: Muscatine, IA)
Date Established: June 13, 1933
WWW: http://www.centralstate.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 12483
FDIC's unique #: 1021
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 301 Iowa Avenue, Muscatine, IA 52761
County: Muscatine
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Cedar Rapids
Office of the Comptroller the Currency (OCC) District: Midwest
Office of Thrift Supervision Region: Western
Core Based Statistical Area (CBSA): Muscatine, IA (#34700)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $300.1 mil
Equity capital: $26.7 mil
Deposits held in domestic offices: $248.7 mil
Return on assets (ROA): 0.90% ($2.7 mil)
Quarterly return on assets: 1.10% ($3.3 mil)
Return on Equity (ROE): 10.43% ($2.8 mil)
Quarterly return on equity: 12.40% ($3.3 mil)
Net income: $2.6 mil
Quarterly Net income: $0.8 mil
Pretax return on assets: 1.10% ($3,300.9 mil)
Quarterly Pretax return on assets: 1.43% ($4,291.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)64
Total assets$300,082
Cash and due from depository institutions$15,882
Interest-bearing balances$4,429
Securities$116,128
Federal funds sold & reverse repurchase agreements$3,350
Net loans & leases$146,148
Loan loss allowance $2,983
Trading account assets$0
Bank premises and fixed assets$5,142
Other real estate owned$1,746
Goodwill and other intangibles$611
All other assets$11,075
Life insurance assets$300,082
Total liabilities and capital$273,375
Total liabilities$248,676
Total deposits$212,762
Interest-bearing deposits$248,676
Deposits held in domestic offices$87
% insured (estimated)10251.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $4,448
All other liabilities $26,707
Total equity capital$26,707
Total bank equity capital$26,707
Perpetual preferred stock$0
Common stock$1,000
Surplus$10,600
Undivided profits $15,107
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $139
Income earned, not collected on loans $4,814
Earning assets $0
Long-term assets (5+ years) $1,697
Average Assets, year-to-date $270,055
Average Assets, quarterly $101,834
Volatile liabilities $293,441
Insider loans $301,163
FHLB advances $183,342
Loans and leases held for sale $299,988
Unused loan commitments $6,445
Tier 1 (core) risk-based capital $6,445
Tier 2 risk-based capital $26,581
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $31,161
Derivatives$189
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $11,222
Total interest expense $2,581
Net interest income $8,641
Provision for loan and lease losses $600
Total noninterest income $3,216
Fiduciary activities $537
Service charges on deposit accounts $796
Trading account gains & fees $0
Additional noninterest income $1,883
Total noninterest expense $8,072
Salaries and employee benefits $3,466
Premises and equipment expense $633
Additional noninterest expense $3,973
Pre-tax net operating income $3,185
Securities gains (losses) $38
Applicable income taxes $586
Income before extraordinary items $2,637
Extraordinary gains - net $0
Net income attributable to bank $2,637
Net charge-offs $0
Cash dividends $2,637
Sale, conversion, retirement of capital stock, net $889
Net operating income $702
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.22%
Cost of funding earning assets 0.97%
Net interest margin 3.25%
Noninterest income to earning assets 1.21%
Noninterest expense to earning assets 3.03%
Net operating income to assets 0.89%
Return on assets (ROA) 0.90%
Pretax return on assets 1.10%
Return on equity (ROE) 10.43%
Retained earnings to average equity (YTD only) 7.65%
Net charge-offs to loans 0.60%
Credit loss provision to net charge-offs 67.49%
Efficiency ratio4.26%
Assets per employee$68,027
Cash dividends to net income (YTD only)4.69%
Condition Ratios (%)
Loss allowance to loans 26.62%
Loss allowance to noncurrent loans 2.00%
Noncurrent assets plus other real estate owned to assets 61.97%
Noncurrent loans to loans 2.19%
Net loans and leases to deposits3.23%
Net loans and leases to core deposits 58.77%
Equity capital to assets 59.82%
Core capital (leverage) ratio 8.90%
Tier 1 risk-based capital ratio 8.86%
Total risk-based capital ratio 14.50%
Memoranda
Average assets$16
Average earning assets$293,441
Average equity $25,279
Average loans $266,028
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$112,549
Number of Accounts1
Personal trust and agency accounts$79,428
Employee benefit-defined contribution accounts$32,437
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$10,150
Investment management agency accounts$1,952
Other fiduciary accounts$34,889
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts362
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$10,150
Employee benefit-defined benefit accounts$0
Other retirement accounts$33,121
Corporate trust and agency accounts$130
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$2,404
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5 Iowa Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01021Central State Bank301 Iowa Avenue, Muscatine, IA 52761June 13, 1933Full Service Brick and Mortar
2189809Park Avenue Branch1521 Park Avenue, Muscatine, IA 52761Febuary 15, 1971Full Service Brick and Mortar
4189811Grandview Avenue Branch410 Grandview Avenue, Muscatine, IA 52761January 31, 1977Full Service Brick and Mortar
6280115Hyvee Branch2400 Second Avenue, Muscatine, IA 52761July 31, 1998Full Service Retail
7465508Wilton Branch710 W.5th St, Wilton, IA 52778October 09, 2006Full Service Brick and Mortar
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